
Credit Currents – Moody’s Ratings
- Episódios
- 125
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- quinzenal
- Último episódio
- 19 out 2026
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Join Moody’s Ratings’ analysts every other Thursday as they break down the biggest stories in credit and why they matter.
Episódios 125
AI-Powered Cyberattacks: Cyber Risk, AI Guardrails and Credit Implications
As AI systems become more capable, they are changing the nature of cyber risk. Reports of AI agents accessing external systems have intensified questions about how organizations can defend themselves, where …
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As AI systems become more capable, they are changing the nature of cyber risk. Reports of AI agents accessing external systems have intensified questions about how organizations can defend themselves, where regulation fits in, and what this evolving threat landscape could mean for credit risk. In this episode of Credit Currents, Moody's analysts explore the opportunities and challenges at the intersection of AI and cybersecurity, including developments involving OpenAI, Hugging Face and Anthropic
Learn more at our Cyber Credit Conference in New York on December 1: https://mdy.link/3WarHMh
Host:
Giulia Calcabrini, Assistant Vice President, Moody’s Ratings
Guests:
Charleyne Biondi, Vice President - Digital Finance and AI Analytics, Moody’s Ratings
Leroy Terrelonge, Senior Vice President - Cyber Credit Risk, Moody’s Ratings
Related Research:
- Self-regulation is unlikely to slow AI progress, 29 Sep 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Why Canada May Rethink Its Global Trade Strategy
A raft of new US tariffs on Canadian goods has come into effect, raising questions about whether Canada can withstand the economic fallout from tensions with its key trading partner. Trade is sure to be top of …
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A raft of new US tariffs on Canadian goods has come into effect, raising questions about whether Canada can withstand the economic fallout from tensions with its key trading partner.
Trade is sure to be top of mind in October, as Canadian Prime Minister Mark Carney prepares to meet with top European Union officials at a summit in Montréal.
We speak with Moody’s Ratings’ lead analyst for Canada about the potential credit impact across sectors and whether the country could forge new alliances.
Host: Patrick Ronk, Vice President, Moody’s Ratings
Guest: Sarah Carlson, Senior Vice President, Moody’s Ratings
Related Research:
- Targeted Canadian retaliation signals limits to tariffs without mutual escalation costs 31 August 2026
- North American trade will remain integrated despite US-Canada tariff test 24 August 2026
- Flipbook: 2026-27 outlook for Canadian provinces is negative on wider deficits and trade uncertainty 16 July 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Why Patent Cliffs Are Fueling Pharmaceutical M&A
Pharma M&A is on track to exceed $160 billion this year, its highest level since before the pandemic. With $300 billion of revenue exposed to patent expirations over the next five years, drugmakers are turning …
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Pharma M&A is on track to exceed $160 billion this year, its highest level since before the pandemic. With $300 billion of revenue exposed to patent expirations over the next five years, drugmakers are turning to acquisitions to replenish pipelines and replace lost revenue. GLP-1 weight-loss drugs, along with oncology and neuroscience, key areas driving deal activity.
Host: Chandra Ghosal, Vice President, Moody’s Ratings
Guest: Michael Weinstein, Executive Director, Moody’s Ratings
Related Research:
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Can the US power grid keep up with data center demand?
Data center growth is accelerating, but access to electricity is becoming a critical constraint. This episode of Credit Currents examines how utilities, developers and policymakers are adapting to unprecedented …
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Data center growth is accelerating, but access to electricity is becoming a critical constraint. This episode of Credit Currents examines how utilities, developers and policymakers are adapting to unprecedented power demand driven by AI and cloud computing.
Host: Patrick Ronk, Vice President, Moody’s Ratings
Guest: Ryan Wobbrock, Senior Vice President, Moody’s Ratings
Related Research:
- Data Centers – US: Power grid constraints, affordability-driven regulatory pushback create potential delays, 14 September 2026
- Regulated Electric and Gas Utilities – US: Risk mitigation key as utilities harness data center demand growth to expand rate base, 15 September 2026
- US data centers pivot to on-site power, 16 September 2026
- Oil & Gas – US: Data center boom offers gains for natural gas producers and midstream operators, 16 September 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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AI, Jobs and Productivity: What the Data Is Really Showing
AI adoption is accelerating across businesses and workplaces, but its economic impact remains difficult to measure. In this episode of Credit Currents, we examine the disconnect between rising AI usage and …
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AI adoption is accelerating across businesses and workplaces, but its economic impact remains difficult to measure. In this episode of Credit Currents, we examine the disconnect between rising AI usage and labor market and productivity outcomes. What are the drivers behind the gap, lessons we can use from the dot-com era, and the key metrics investors should watch as AI investment continues to grow? Listen now to find out.
Host: Greg Sobel, Vice President, Moody’s Ratings
Guests: Gabriel Agostini, Assistant Vice President, Credit Strategy and Standards, Moody’s Ratings
Related Research:
- Widespread AI adoption is yet to affect labor market or productivity, 27 Jul 2026
- AI brings competitive divergence and reshapes risks,28 July 2026
- Hyperscalers' asset-heavy model spurs borrowing, equity sales,22 July 2026
- Tokens are the currency of AI, and the smartest spenders will pull ahead, 13 July 2026
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Big Tech’s AI Spending Surge: What It Means for Credit Risk
AI may have begun as a technology race, but it is increasingly becoming a race for capital and infrastructure. As hyperscalers invest at unprecedented levels, a SpaceX IPO and potential offerings from OpenAI …
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AI may have begun as a technology race, but it is increasingly becoming a race for capital and infrastructure. As hyperscalers invest at unprecedented levels, a SpaceX IPO and potential offerings from OpenAI and Anthropic, are offering new insights into the financing needs, transparency and credit dynamics shaping the industry's next phase.
Host: Chandra Ghosal, Vice President, Moody’s Ratings
Guest: Kevin McNeil, Vice President, Moody’s Ratings
Related Research:
- Hyperscalers' asset-heavy model spurs borrowing, equity sales https://www.moodys.com/research/Artificial-Intelligence-Technology-US-Hyperscalers-asset-heavy-model-spurs-borrowing-Sector-In-Depth--PBC_1490738 22 July 2026
- Infographic: Massive CapEx feeding data center ecosystem https://www.moodys.com/research/doc--PBC_1486517
- Hyperscaler capex to near $1 trillion in 2027, fueling AI growth, memory shortage https://www.moodys.com/research/Artificial-Intelligence-Data-Centers-US-Hyperscaler-capex-to-near-Sector-In-Depth--PBC_1483702 11 May 2026
- Hyperscalers' reported AI-related lease commitments may understate economic risk https://www.moodys.com/research/Accounting-US-Hyperscalers-reported-AI-related-lease-commitments-may-understate-economic-Sector-In-Depth--PBC_1467708 23 February 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Next-Gen Payments and Digital Frontiers: Speed, Risk and Adoption
Instant, low-cost cross-border payments are moving closer to reality as blockchain, stablecoins and tokenization reshape financial infrastructure. This episode explores how distributed ledger technology can …
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Instant, low-cost cross-border payments are moving closer to reality as blockchain, stablecoins and tokenization reshape financial infrastructure. This episode explores how distributed ledger technology can enable faster, more transparent transactions while improving liquidity management through automation and smart contracts.
Adoption remains gradual, with regulatory uncertainty, interoperability challenges and the need for market confidence continuing to shape progress. The discussion also examines Moody’s stablecoin methodology, the role of AI in fraud detection and liquidity forecasting, and key risks across technology, cybersecurity and regulation.
Featuring insights from Moody’s analysts Greg Sobel and Lucas Viegas.
Host: Greg Sobel, Vice President, Moody’s Ratings
Guest: Lucas Viegas, Vice President, Moody’s Ratings
Related Research:
- https://www.moodys.com/research/Digital-Transformation-Europe-A-significant-step-for-the-retail-digital-Sector-Comment--PBC_1486057
- https://www.moodys.com/web/en/us/insights/credit-risk/digital-economy/tokenization-will-change-us-transaction-flows.html
- https://www.moodys.com/research/Financial-Institutions-Latin-America-Regions-adoption-of-digital-assets-expands-Sector-In-Depth--PBC_1454933
- https://www.moodys.com/research/Digital-Economy-Cross-Region-AI-agents-with-digital-cash-would-Sector-In-Depth--PBC_1414649
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Why the K-Shaped Economy Threatens US Growth
Is the US economy increasingly dependent on high-income consumers? In this episode of “Credit Currents,” Mark Zandi, Chief Economist at Moody’s Analytics, and Atsi Sheth, Chief Credit Officer at Moody’s …
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Is the US economy increasingly dependent on high-income consumers?
In this episode of “Credit Currents,” Mark Zandi, Chief Economist at Moody’s Analytics, and Atsi Sheth, Chief Credit Officer at Moody’s Ratings, examine the reality of the K-shaped economy.
They explore how the top 20% of earners now drive roughly 60% of spending, while lower-income households face mounting pressure from rising costs of essentials like food, fuel and housing.
From premium airline demand to tightening credit conditions and weakening real income growth, this episode highlights why economic growth may appear stable, but is becoming increasingly fragile and concentrated.
Host:
Patrick Ronk, Vice President, Moody’s Ratings
Guests:
Mark Zandi, Chief Economist, Moody’s Analytics
Atsi Sheth, Chief Credit Officer, Moody’s Ratings
Related Research:
- Global Macro Outlook (May 2026 Update) - Global energy market stress weighs on growth prospects
- The State of the Consumer (March 2026) – US - Higher energy prices and a narrowing consumption base pose risks to spending
- The State of the Consumer (May 2026) – Europe - Middle East conflict will weaken consumer confidence and nascent economic recovery
- Geopolitical Risk – Global - Prolonged Strait of Hormuz disruption through autumn broadens credit stress
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Private Credit: “Bad Vibes” and the Changing Conversation
Private credit has hit a speed bump in the US, where the market is rapidly pivoting from growth to stricter risk discipline. At our flagship “Credit Frontiers” event, we sat down with Moody’s leaders to discuss …
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Private credit has hit a speed bump in the US, where the market is rapidly pivoting from growth to stricter risk discipline.
At our flagship “Credit Frontiers” event, we sat down with Moody’s leaders to discuss what’s behind these “bad vibes” about private credit and what they’re hearing from market participants about the trajectory of the asset class.
Host: Giulia Calcabrini, Assistant Vice President, Analyst, Moody’s Ratings
Guests:
- Marc Pinto, Managing Director, Global Head of Private Credit, Moody’s Ratings
- David Hamilton, Managing Director, Head of Asset Management Research, Moody’s Analytics
Related Research:
- Private Credit – Global – Volatility will intensify focus on liquidity, transparency 22 April 2026
- Private Credit – Global – Seven key ways private credit is changing 14 May 2026
- Private Credit – US – Asset quality indicators point to emerging risk in private credit direct lending 28 April 2026
- Moody’s Private Credit Insights
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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An Era of Pragmatic Transition: What’s Next for Energy Markets
What comes next for sustainable finance debt markets? The energy transition’s momentum has shifted towards more pragmatic rationales, including energy security, sovereignty and critical supply chain resilience …
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What comes next for sustainable finance debt markets?
The energy transition’s momentum has shifted towards more pragmatic rationales, including energy security, sovereignty and critical supply chain resilience.
In this episode, we discuss why, despite headwinds arising from global trade tensions, Asia remains a contributing force for the “pragmatic transition”, the favorable conditions supporting renewable investment, as well as the opportunities for both the public and private sectors.
Host: Giulia Calcabrini, Assistant Vice President, Analyst, Moody’s Ratings
Guest: Rahul Ghosh, Managing Director, Head of Global Sustainable Finance & Emerging Markets, Moody’s Ratings
Related Research:
- Sustainable bond issuance on track to be flat versus 2025 levels after mixed quarter (Data Story) 12 May 2026
- Carbon Transition – Asia-Pacific – Transition finance to expand as credible pathways emerge 19 March 2026
- APAC Sustainable Finance Summit 2026 (Replay) 24 March 2026
- In Person Event: Unlocking Capital for Climate Resilience: From Data to Decisions - London Climate Action Week 24 June 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Stablecoins, Tokenization and the Future of Finance
Asset tokenization and digital money, including stablecoins, are moving from the margins of finance toward the core of market infrastructure, spurring banks and other market participants to adapt their approach …
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Asset tokenization and digital money, including stablecoins, are moving from the margins of finance toward the core of market infrastructure, spurring banks and other market participants to adapt their approach to blockchain technology.
In this episode of Credit Currents, we explore why trust and regulation are central to adoption of tokenized assets, and how a gradual move in this direction could reshape payments, settlement and credit markets.
The conversation explores both the promise of faster, always‑on transactions and the practical challenges that will shape how quickly digital finance takes hold.
Host: Greg Sobel, Vice President, Senior Credit Officer, Moody’s Ratings
Guest: Donald Robertson, Managing Director, Financial Institutions, Moody’s Ratings
Related Research:
- Financial Institutions – US: Tokenization will change US transaction flows; less likely to remove intermediaries,11 May 2026
- Financial Institutions – US: US financial markets envision an inevitable shift to tokenized assets and digital money,12 May 2026
- Digital Economy – Global: Growing stablecoin use highlights policy, liquidity and price vulnerabilities,13 May 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Banking Rules are Changing: Here’s Why it’s Net Negative for Credit
There could be big changes coming to longstanding bank regulations. With earnings season heating up, the discussion over capital rules is back in focus. Credit Currents is on the ground in Washington, D.C. as …
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There could be big changes coming to longstanding bank regulations. With earnings season heating up, the discussion over capital rules is back in focus.
Credit Currents is on the ground in Washington, D.C. as the world's top policymakers and regulators attend meetings with the World Bank, International Monetary Fund (IMF) and Institute of International Finance (IIF).
We unpack what looser capital requirements could mean, the implications for credit, and how regulators and the US Federal Reserve are responding.
Host: Chandra Ghosal, Vice President, Senior Credit Officer, Moody’s Ratings
Guest: Megan Fox, Associate Managing Director, Financial Institutions Group, Moody’s Ratings
Related Research:
- Banks – US – Proposed changes to risk-based capital requirements will likely be credit negative 18 March 2026
- Banks – US – New philosophy of US banking supervision and regulation is credit negative 23 March 2026
- Banks – US – A policy shift on liquidity regulation would have mixed credit implications 13 March 2026
- Banking – US – Solid bank results likely in 2026, though sensitive to widening tail risk 16 March 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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US-Iran Ceasefire: The Risks Affecting Credit Markets
A temporary truce between the US and Iran is contingent on the reopening of the Strait of Hormuz, but disruptions to global supply chains, energy markets, oil prices and various sectors are still risks to …
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A temporary truce between the US and Iran is contingent on the reopening of the Strait of Hormuz, but disruptions to global supply chains, energy markets, oil prices and various sectors are still risks to credit quality.
In our latest episode of Credit Currents, taped hours before the news broke, we discuss the ways geopolitical shocks ripple through sectors, whether there could be an impact on issuer ratings or outlooks, and why some sectors like defense are less affected.
Host: Chandra Ghosal, Vice President, Senior Credit Officer, Moody’s Ratings
Guest: Nick Hill, Global Head of Credit Strategy and Guidance, Moody’s Ratings
Related Research:
- Geopolitical risk – Global – Prolonged disruption in the Middle East would have global credit implications 26 March 2026
- Corporate default rate would likely rise if Middle East conflict is prolonged 26 March 2026
- Sovereigns – Global: Middle East shock will test sovereigns with limited credit buffers 8 April 2026
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Why Netflix is Still a Winner After Bidding War with Paramount
Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still …
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Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still must approve the deal, and Paramount’s offer comes with huge debt.
In this first episode of Credit Currents, a new video podcast series from Moody’s Ratings, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk.
We also consider the potentially significant impact of AI on viewing habits and customer preferences.
Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings
Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings
Related Research:
- Media, Telecommunications – US – Media's significant consolidation, streaming shift continue; more telecom competition 2 Feb 2026
- Corporates | Media & Publishing - Netflix, Inc. - Credit Opinion – Update to credit analysis following affirmation and changing outlook to stable 29 Dec 2025
- Media & Publishing – US – Large streamers thriving amid intense competition, smaller streamers at risk 16 April 2025
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Introducing: Credit Currents, a new Moody's Ratings video podcast
Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still …
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Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still must approve the deal, and Paramount’s offer comes with huge debt.
In this first episode of Credit Currents, a new video podcast series from Moody’s Ratings launching on April 2, 2026, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk.
We also consider the potentially significant impact of AI on viewing habits and customer preferences.
Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings
Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Emerging market credit conditions will continue gradual, fragile improvement in 2025
Corporate and sovereign default rates are decreasing as GDP growth, slowing inflation and monetary easing aid debt management. But EMs face a number of credit risks including potential US tariffs.Guest …
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Corporate and sovereign default rates are decreasing as GDP growth, slowing inflation and monetary easing aid debt management. But EMs face a number of credit risks including potential US tariffs.
Guest: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody’s Ratings
Host: Colin Ellis, Managing Director, Credit Strategy & Guidance, Moody’s Ratings
Related Research:
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How the US election could shape global credit conditions
In this joint Big Picture-Emerging Markets Decoded episode, our regional analysts highlight the key US policy areas to watch in Europe, Asia-Pacific and Latin America -- and discuss which economies and sectors …
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In this joint Big Picture-Emerging Markets Decoded episode, our regional analysts highlight the key US policy areas to watch in Europe, Asia-Pacific and Latin America -- and discuss which economies and sectors could be at risk if policies were to dramatically change.
Guests: Sarah Carlson, Senior Vice President, Sovereign Risk Group, Moody's Ratings; Gong Cheng, Managing Director, Credit Strategy, Moody's Ratings; Ariane Ortiz-Bollin, Vice President - Senior Credit Officer, Credit Strategy, Moody's Ratings
Host: William Foster, Senior Vice President, Sovereign Risk Group, Moody's Ratings
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Positive credit stories emerging in a handful of Sub-Saharan African countries
Institutional reforms, policy reversals, debt restructurings and the prospect of new hydrocarbon production are leading to gradual improvement in some sovereigns’ creditworthiness from weak levels.Guest: John …
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Institutional reforms, policy reversals, debt restructurings and the prospect of new hydrocarbon production are leading to gradual improvement in some sovereigns’ creditworthiness from weak levels.
Guest: John Walsh, Analyst, Sovereign Risk Group, Moody's Ratings
Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings
Related Research:
- Sovereign – Sub-Saharan Africa: Governance is key to realising credit benefits for new hydrocarbon producers
- Sovereign – Sub-Saharan Africa: Institutional reforms are supporting creditworthiness for select sovereigns
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Geopolitical risk shapes creditworthiness for host of APAC governments
Risk exposure is highest for those directly involved in the region’s three main hotspots. But the knock-on economic effects of the tensions have the potential to hurt, or help, other APAC governments.Guest …
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Risk exposure is highest for those directly involved in the region’s three main hotspots. But the knock-on economic effects of the tensions have the potential to hurt, or help, other APAC governments.
Guest: Anushka Shah, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody's Ratings
Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings
Related Research:
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Corporate credit quality in India, Indonesia remains robust despite sectoral differences
India's large domestic market shields its companies from external shocks, whereas Indonesia's export-dependent commodity sector prompts government efforts to diversify growth.Guests: Rachel Chua, VP-Senior …
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India's large domestic market shields its companies from external shocks, whereas Indonesia's export-dependent commodity sector prompts government efforts to diversify growth.
Guests: Rachel Chua, VP-Senior Analyst; Sweta Patodia, AVP-Analyst
Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings
Related Research:
- Nonfinancial Companies – India and Indonesia: Credit quality will remain robust, even as earnings trajectory diverges
- Nonfinancial Companies – Southeast Asia Dollar bond issuance will regain momentum when US interest rates begin to fall
- Nonfinancial Companies – India: Offshore funding indispensable despite improving domestic liquidity
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Latin American national oil companies face hurdles in reducing greenhouse gas emissions
Challenges include the region’s reliance on fossil fuels to meet energy demand amid population growth, the companies’ weak financials and governments’ reliance on revenue from oil and gas producers.Guests …
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Challenges include the region’s reliance on fossil fuels to meet energy demand amid population growth, the companies’ weak financials and governments’ reliance on revenue from oil and gas producers.
Guests: Roxana Munoz and Carolina Chimenti, both Vice President - Senior Analysts, Corporate Finance Group, Moody's Ratings
Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings
Related research:
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Central bank push to tame inflation boosts credit quality of Turkish sovereign, companies
Rate hikes in Turkiye have slowed inflation, and confidence in the country’s currency is increasing. The sovereign’s creditworthiness is improving as a result, along with that of Turkish companies.Guests …
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Rate hikes in Turkiye have slowed inflation, and confidence in the country’s currency is increasing. The sovereign’s creditworthiness is improving as a result, along with that of Turkish companies.
Guests: Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group, Moody’s Ratings; Iker Ballestero Barrutia, Analyst, Corporate Finance Group, Moody's Ratings
Host: Vittoria Zoli, Analyst, Credit Strategy & Guidance, Moody's Ratings
Related Research:
- Moody's Ratings takes rating actions on eight Turkish corporates following upgrade of Turkiye sovereign rating
- Government of Turkiye – B1 positive: Update following upgrade to B1, outlook remains positive
- Government of Turkiye: Macro-financial monitor: CBRT tightening shows first results, but more is needed to moderate inflation
- Moody's Ratings upgrades Turkiye's ratings to B1, maintains positive outlook
- Government of Turkiye: Announced policy shift is credit positive but implementation comes with challenges
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Kenya protests highlight transmission of social risk to sovereign creditworthiness
The opposition to proposed tax hikes impedes the government’s ability to increase revenue and reduce debt. Similar risks exist for other emerging market sovereigns too.Guest: David Rogovic, Vice President …
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The opposition to proposed tax hikes impedes the government’s ability to increase revenue and reduce debt. Similar risks exist for other emerging market sovereigns too.
Guest: David Rogovic, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody’s Ratings
Host: Scott Phillips, Head of Emerging Markets, Credit Strategy and Research, Moody’s Ratings
Related Research:
- Moody's Ratings downgrades Kenya's ratings to Caa1; maintains negative outlook
- Government of Kenya: Protests against Finance Bill's tax measures challenge government's fiscal consolidation strategy
- Government of Kenya: Kenya's IMF agreement bolsters short-term liquidity; fiscal consolidation is key to improving credit quality
- Sovereigns – Sub-Saharan Africa: 2024 Outlook - Negative on large debt maturities amid tight funding conditions
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Steady GDP growth continues for emerging markets, with wide variation by country
We have revised our aggregate EM forecast up slightly to 3.9% for 2024-25 to reflect faster-than-expected growth in some of the largest EMs so far this year. Disinflation continues but is slowing.Speaker …
Notas do episódio
We have revised our aggregate EM forecast up slightly to 3.9% for 2024-25 to reflect faster-than-expected growth in some of the largest EMs so far this year. Disinflation continues but is slowing.
Speaker: Madhavi Bokil, Senior Vice President, Credit Strategy at Moody's Ratings
Host: Vittoria Zoli, Analyst, Emerging Markets at Moody’s Ratings
Related Research:
- Emerging Markets – Global: GDP growth stays solid; disinflation slows
- Global Macro Outlook 2024-25 (May 2024 update): G-20 momentum persists in 2024 with disinflation and cooler growth ahead
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South Africa’s creditworthiness with a new coalition government
The creation of a coalition government following 29 May elections will likely support broad policy continuity and reforms, but the risk of government instability and ineffectiveness is significant.Guest …
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The creation of a coalition government following 29 May elections will likely support broad policy continuity and reforms, but the risk of government instability and ineffectiveness is significant.
Guest: Aurelien Mali, Vice President-Senior Credit Officer, Sovereign Risk Group, Moody's Ratings
Host: Scott Phillips, Associate Managing Director, Credit Strategy & Research, Moody's Ratings
Related research:
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Views from Moody’s Global Emerging Markets 2024 virtual event
Moody’s Ratings experts discuss the fragile recovery and new threats in EMs, including macro conditions, default trends, credit risks for sovereigns and corporates, and bright spots.Host: Scott Phillips …
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Moody’s Ratings experts discuss the fragile recovery and new threats in EMs, including macro conditions, default trends, credit risks for sovereigns and corporates, and bright spots.
Host: Scott Phillips, Associate Managing Director, Moody’s Ratings
Related Research:
- Fragile recovery in EM credit conditions will continue
- Emerging Markets – Global: Local currency bond markets are growing fast, a credit-positive trend for debt issuers
- Sovereigns – Emerging Markets: Favorable financing conditions will not solve structural credit challenges
- Government-Related Issuers – Emerging Markets: GRIs’ standalone credit strength and government support vary widely across EMs
- Banks – Emerging Markets: Asset-quality risk is receding but remains high in several countries
To learn more, visit the Emerging Markets topic page.
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Frontier markets: higher risk, higher potential returns
Join Scott Phillips, head of EM at Moody’s Ratings, and Maciej Woznica, portfolio manager at asset management firm Coeli, for a tour of the least-developed emerging markets.Guest: Maciej Woznica, Portfolio …
Notas do episódio
Join Scott Phillips, head of EM at Moody’s Ratings, and Maciej Woznica, portfolio manager at asset management firm Coeli, for a tour of the least-developed emerging markets.
Guest: Maciej Woznica, Portfolio Manager, Coeli
Host: Scott Phillips, Associate Managing Director, Moody’s Ratings
Related Research:
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Speculative-grade default rate for emerging market companies improves with macro conditions
The default rate will decline to 3.3% by the end of Q1 2025, far below the peak of nearly 15% at the end of 2022 which was driven by the Russia-Ukraine war and China’s property market woes.Guest: Yang Liu, Vice …
Notas do episódio
The default rate will decline to 3.3% by the end of Q1 2025, far below the peak of nearly 15% at the end of 2022 which was driven by the Russia-Ukraine war and China’s property market woes.
Guest: Yang Liu, Vice President - Senior Analyst, Moody's Ratings
Host: Scott Phillips, Associate Managing Director, Moody’s Ratings
Related Research:
- Corporates – Emerging Markets: EM corporate default rate will fall further in 2024 and approach advanced economy rate
- Default Trends – Global: Annual default study: Corporate default rate to moderate in 2024 but remain near its long-term average
© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.
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Middle East: from geopolitical tensions to Islamic finance
Moody’s analysts discuss the increased risk for sovereigns from escalation of the Israel-Iran conflict, and then shift to the growing demand for Islamic finance.Guests: Christian Fang, Vice President – Senior …
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Moody’s analysts discuss the increased risk for sovereigns from escalation of the Israel-Iran conflict, and then shift to the growing demand for Islamic finance.
Guests: Christian Fang, Vice President – Senior Analyst, Sovereign Risk Group, Moody’s Ratings; Badis Shubailat, Assistant Vice President – Analyst, Financial Institutions Group, Moody’s Ratings
Host: Vittoria Zoli, Analyst, Emerging Markets, Moody’s Ratings
Related research:
- Tail risks from Israel-Iran conflict pose a major threat to sovereigns regionally and globally
- Islamic finance sector will retain strong momentum in 2024
- Sukuk issuance to decline again in 2024 before stabilizing in 2025
- Strong US dollar sukuk issuance is positive for companies' capital raising efforts
- Islamic finance's adoption of blockchain could be beneficial, but faces crucial barriers
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EM macro conditions are improving unevenly as GDP growth stabilizes and inflation slows
Growth will slow in 2024 then stabilize in 2025 in most emerging markets. We have raised our forecasts for Asia, Central-Eastern Europe, the Middle East and Africa but lowered them for Latin America.Host: Scott …
Notas do episódio
Growth will slow in 2024 then stabilize in 2025 in most emerging markets. We have raised our forecasts for Asia, Central-Eastern Europe, the Middle East and Africa but lowered them for Latin America.
Host: Scott Phillips, Head of Emerging Markets, Moody's Ratings
Speaker: Vittoria Zoli, Analyst - Emerging Markets, Moody's Ratings
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